BIOLUBRICANTS MARKET ANALYSIS

Biolubricants are lubricants derived from vegetable oils or animal fat, and have properties such as biodegradability, non-toxicity, are non-bioaccumulative, and eco-friendly. Traditionally used lubricants were derived from petroleum-based oil, with poor degradability. Moreover, petroleum-based lubricants lead to environmental hazards by accumulating in water bodies and harm the aquatic life. Therefore, rising awareness regarding eco-friendly lubricant solutions is expected to drive demand of biolubricants in the near future.

Market Dynamics:

• Growing demand of sustainable alternatives against petroleum-based lubricants is expected to drive growth of the global biolubricants market over the forecast period. According to the fact sheet on biolubricants released by the Department of Ecology of Washington, U.S., in April 2011, biolubricants offer better safety than petroleum lubricants as they have higher flashpoints, constant viscosity, and less oil mist and vapor emissions. Biolubricants also produce lower emissions. Moreover, as per the same source, biolubricants are highly biodegradable and are less costly owing to lower maintenance, storage, and disposal requirements.
• Furthermore, number of advantages offered by biolubricants compared to petroleum-based lubricants, are expected to drive growth of the biolubricants market, as it provides low cost and eco-friendly solutions for various lubricant products such as greases and engine oils.

Market Outlook:

• Among region, North America is expected to witness high growth in the global biolubricants market over the forecast period owing to increasing number of government initiatives. For instance, the U.S. government’s Air Force and Department of Defense are focused on testing bio-based motor oils for future applications. For instance, according to the an article published by the Defense Logistics Agency (DLA), in April 2016, the U.S. Air Force Research Laboratory tested and validated a bio-based synthetic oil to be used in government vehicles at four Air Force bases and Department of Homeland Security Installation. This bio-based oil is a blend of 25 to 40% agricultural products such as canola oil, soybean oil, and oils from animal fat and synthetic oil.
• Moreover, according to the article, ‘NASA Helps Test New Engine Oils’ published by National Aeronautics and Space Administration (NASA) in April 2018, NASA carried out performance testing and validated three new bio-based engine oils. Five vehicles at NASA’s Armstrong Flight Research Center in California, U.S. are using these new engine lubricants.
• Increasing initiatives towards use of sustainable lubricant products is expected to drive the biolubricants market growth over the forecast period.

Key players:

• Key players operating in the global biolubricants market include Exxon Mobil Corporation, Royal Dutch Shell plc, Quaker Chemical Corporation, Total S.A., Emery Oleochemicals, RSC Bio Solutions, LLC, Klüber Lubrication München Se & Co. Kg, Fuchs Schmierstoffe GmbH, Balmer Lawrie & Co. Ltd., and Renewable Lubricants Inc.

Market Taxonomy:

On the basis of oil source, the global biolubricants market is segmented into:

• Plant-Based
• Animal-Based

On the basis of product type, the global biolubricants market is segmented into:

• Hydraulic Fluid
• Metalworking Fluid
• Gear Lubricants
• Greases
• Engine Oil
• Others (Mold Release Agents, Chainsaw Oils etc.)

On the basis of end-use industry, the global biolubricants market is segmented into:

• Industrial
• Automotive
• Construction
• Marine
• Others (Agricultural, Forestry etc.)

On the basis of region, the global biolubricants market is segmented into:

• North America
  • U.S.
  • Canada
  • Mexico
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • ASEAN
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa
  • Middle East
  • Africa